Another round of stimulus payments in California expected to be dispensed this week

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A new tranche of stimulus checks is expected to be sent by the state of California this week.

The state’s Franchise Tax Board said the first batch of stimulus can be received by Tuesday.

About $480 million payments will be dispensed for this round to eligible residents who earn below $75, 000 in adjusted gross income.

Two-thirds of California residents are estimated by Gov. Gavin Newsom’s office to qualify for a stimulus under the pandemic recovery budget of the state.

“For most Californians who qualify, you do not need to do anything to receive the stimulus payment other than file your 2020 tax return,” an announcement posted on the Tax Board website said, ABC7 reported.

Meanwhile, a report by KRON4 reminded taxpayers who asked for the 2020 tax returns filing extension that they only have until Oct. 15, as set by the Internal Revenue Service.

Failing to file on the deadline will result in a penalty, but there are some who are exempted like military members who work in a ‘combat zone’ recognized by the IRS. They are commonly given 180 days following their exit from the battlefield.

Apart from military members, the IRS said people residing in areas declared as disaster zones by the federal government can obtain more filing extensions beyond the deadline. Included under these exemptions are Hurricane Ida and other Northern California wildfire victims.

But those who are not included in the exemptions are told to file their 2020 tax return before Oct. 15 to become eligible to complete stimulus checks.

According to the IRS, qualified taxpayers who submitted their last year’s returns can get missing stimulus checks up until the year’s end.

The agency said there is no consequence for the taxpayer for not filing before Oct. 15 if he or she is entitled a refund. But it is important for taxpayers who are in debt to file to prevent penalties for late fees and interest.

The IRS has also made online options for taxpayers to file electronically.